Squalene Market to Grow by USD 62.9 Million from 2024-2028, Driven by Rising Adoption of UVA/UVB Filters in Sunscreens, Report Powered by AI - Technavio
NEW YORK, Sept. 17, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global squalene market size is estimated to grow by USD 62.9 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.79% during the forecast period. Increasing acceptance of uva/b filters in sunscreens and sun protection cosmetics is driving market growth, with a trend towards squalene derived from renewable resources. However, stringent safety regulations on uv sun care products poses a challenge. Key market players include Amyris Inc., ARISTA INDUSTRIES, BOCSCI Inc., Cibus, Croda International Plc, Evonik Industries AG, Gracefruit Ltd., KISHIMOTO SPECIAL LIVER OIL CO. LTD., KURARAY Co. Ltd., LBB Specialties LLC, MacroCare Tech Ltd., Majestic Mountain Sage Inc., Maruha Nichiro Corp., Maypro Group, Micro Capsule Technologies, New Zealand Green Health Ltd., Parchem Fine and Specialty Chemicals Inc., Seadragon, Sophim, and VESTAN. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report Market Driver Squalene, a natural hydrocarbon, is increasingly derived from renewable sources such as vegetables and olives. Olive oil is a significant source due to its high squalene content. Renewable squalene production is expanding in countries with abundant olive cultivation, including Greece, Portugal, Italy, France, Spain, the US, Australia, Turkey, and Austria. Sugarcane is another source, yielding squalene of higher quality and purity. Squalene is used in skin treatments and personal care products derived from olive oil and sugarcane. Additionally, squalene is sourced from tobacco and a new yeast-like fungus, Pseudozyma, for commercial production. Genetic modification and metabolic changes have enhanced squalene production, leading to the development of industrial-scale, squalene-hyperproducing strains. This trend towards renewable squalene sources is anticipated to continue, positively impacting the global squalene market's growth during the forecast period. Squalene is a popular ingredient in the personal care industry, used in creams, serums, oils, and masks for its excellent moisturizing properties. Traditionally sourced from shark liver oil, concerns over animal welfare and sustainability have led to the exploration of renewable sources. Sugarcane and olive-derived squalene are now common alternatives. Vegetable-sourced squalene, also known as squalane, is gaining popularity due to its lower toxicity and compatibility with various formulations. Emollients in lotions, hair conditioners, bath oils, lipsticks, foundations, and even vaccines benefit from squalene's ability to reduce the oxidation of other ingredients and enhance their efficacy. Squalene's role in the cosmetics sector extends to cleansing ingredients in various personal care products. In the nutritional supplement market, fish oil and shark liver oil remain significant sources of squalene, contributing to immune response and vaccine development. Renowned companies like GlaxoSmithKline, Sanofi S, and CureVac N are investing in squalene research for its potential as an adjuvant in flu vaccinations, enhancing immunogenicity and antigen dosage sparing. However, the use of squalene in vaccines has raised concerns regarding its potential toxicity and heterologous antibody responses. The oncology segment is also exploring squalene for its potential role in cancer treatment. Overall, the versatility of squalene makes it an essential raw material in various industries, from personal care to pharmaceuticals. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This squalene market report extensively covers market segmentation by 1.1 Cosmetic and personal care products- The global squalene market is primarily driven by the cosmetics and personal care sector, with squalene and squalane being key ingredients due to their skin benefits. Squalene, a natural organic substance, is sourced from olives, wheat germ oil, and rice bran. It acts as a precursor to cholesterol and aids in skin moisturization and protection. Squalane, derived from squalene through hydrogenation, is a stable form for skincare products. Both offer moisturizing, anti-aging, anti-inflammatory, and healing properties. In cosmetics, they're used in hair care, makeup, skincare, and sunscreen products. They improve skin texture, reduce fine lines, protect from environmental stressors, and strengthen the skin's barrier function. Squalane is lightweight, noncomedogenic, and suitable for all skin types. Its humectant property retains skin moisture and has antibacterial properties. The expanding cosmetics industry, growing consumer spending, and increasing demand for premium products fuel the market's growth during the forecast period. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis Squalene is a natural hydrocarbon found in various sources, including shark liver oil and certain plant-based sources like olives, rice bran, amaranth oil, and sugarcane. In the personal care and cosmetics sector, squalene is widely used as an emollient due to its excellent moisturizing properties. It is commonly found in creams, serums, and oils, and is known for its ability to penetrate deep into the skin, making it an effective anti-aging ingredient. Animal-sourced squalene, primarily from shark liver oil, has faced controversy due to concerns over shark populations and toxicity. However, the cosmetics industry has shifted towards vegetable-sourced squalene as a more sustainable and ethical alternative. Free radicals are unstable molecules that can damage skin cells and contribute to the aging process. Squalene is a potent antioxidant that helps protect the skin from damage caused by free radicals. The MMPA (Marine Mammal Protection Act) regulates the harvesting of shark liver oil, ensuring that it is sustainably sourced. Nutraceutical firms also use squalene for its health benefits, such as reducing inflammation and improving skin elasticity. Terpene oils, like tea tree oil and sandalwood oil, can be rich sources of squalene. Tobacco crops are also being explored as a potential source of squalene, but its extraction is still under research. Overall, squalene is a versatile ingredient with numerous applications in personal care and cosmetics, as well as in nutraceuticals, and its sourcing is becoming increasingly sustainable and ethical. Market Research Overview Squalene is a natural hydrocarbon found in various organisms, including sharks, olives, and sugarcane. In the personal care industry, squalene is widely used as a raw material for creating emollients in creams, serums, oils, masks, lotions, hair conditioners, bath oils, lipsticks, foundations, and more. Squalene's ability to mimic the skin's natural oils makes it an excellent moisturizing agent and cleansing ingredient. Animal-sourced squalene, primarily obtained from shark liver oil, has raised concerns regarding the impact on shark populations. Renewable sources, such as sugarcane and vegetable-sourced squalene, have gained popularity as alternatives. Squalene's antioxidant properties help protect the skin from free radicals and the aging process. Beyond personal care, squalene is also used in vaccines as an adjuvant to enhance immunogenicity and reduce antigen dosage sparing. Companies like GlaxoSmithKline, Sanofi Pasteur, and CureVac are some key players in this segment. Squalene's use extends to the oncology segment for its potential anti-aging properties and as a component in terpene oils, such as amaranth oil and rice bran oil. Squalene's applications go beyond personal care and cosmetics. It is also used in nutraceuticals and nutritional supplements, such as fish oil and plant-based squalene. In the pharmaceutical industry, squalene is used as a raw material for producing synthetic squalene for various applications, including flu vaccinations. However, it is important to note that while squalene is generally considered safe, there have been reports of allergic reactions and toxicity in some individuals. Therefore, it is essential to use squalene-containing products responsibly and consult a healthcare professional if any adverse reactions occur. Table of Contents: 1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation 7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/
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